Covid-19: Business sentiment in Bulgaria plummets to lowest level in 23 years – poll

Business sentiment in Bulgaria has plummeted drastically in the context of the State of Emergency against the spread of Covid-19, according to an April 2020 poll by the National Statistical Institute (NSI).

The overall indicator plunged by 41.7 percentage points in April compared with March, 37 percentage points below the long-term average for the past 10 years, and 4.4 percentage points above the long-term minimum that was registered in February 1997.

February 1997 was a time when Bulgaria was in economic and political turmoil amid financial collapse under socialist rule.

The business climate in industry indicator in April 2020 fell by 31.8 percentage points, with managers pessimistic about the situation of their businesses and negative in their expectations about exports and production.

The construction sector indicator fell by 45.6 percentage points, amid decreased construction in the previous month, an increase in clients who had delayed making payments, reduced orders and the belief that the decline will continue over the next six months.

The retail trade indicator fell 52 percentage points, with growing pessimism among managers, with rising concern about the uncertain economic environment, competition in the sector and insufficient demand.

The service sector indicator fell by 47.1 percentage points, with negative expectations about demand, and with the uncertain economic environment as the leading concern, the NSI said.

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The Sofia Globe staff

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